Here’s how experts say the Fed’s historic move will affect the housing market The Federal Reserve raised interest rates 0.75 percentage points yet again, marking the fourth consecutive hike and bringing interest rates to their highest point since January 2008. In a press conference shortly after the announcement, Fed Chairman Jerome Powell acknowledged that the …
The Fed’s Latest Rate Hike Set to Impact the Mortgage Market Read More »
We combed expert opinions to get a feel for the future and current state of the market. Mortgage rates climbed above 7% this week, reaching the highest level since 2001. It’s been a rocky year for the housing market, which has started to take a beating, with home prices notably dipping in many markets across …
Or does a lack of inventory mean competition will remain strong? Less than six months ago, bidding wars were a widespread inevitability plaguing prospective homebuyers in an overheated housing market. But now, with home prices declining around the country and mortgage rates recently climbing to their highest level in 21 years, will the days when …
With Home Prices Falling, Will Bidding Wars Become a Thing of the Past? Read More »
One way to forget about rates, increase your likelihood of owning the home all while making the Fed’s job harder…bring cash to the closing table! With interest rates recently “hockey sticking” and inventory remaining low, a significant percentage of homebuyers are continuing to snap up properties with all-cash offers. In fact, last quarter such purchases …
Are All-Cash Home Purchases Keeping Prices Afloat in This Interest Rate Environment? Read More »
In a transitioning and ultra-competitive market, it’s more crucial than ever that banks get the right tech in place now When it comes to mortgage lending, banks understand that technology plays a crucial role in their ability to close more loans and keep their borrowers happy. With so many options available to prospective borrowers these …
Borrowers Can Tap Substantial Home Equity With a HELOC or a HEL U.S. home equity has reached a new record high. Nationwide, the total home equity is $28 trillion, with an astounding $6 trillion added in the past two years. OpenClose is committed to serving lenders that are seeking qualified prospects for a home equity …
Attracting Home Equity Line of Credit and Home Equity Loan Customers Read More »
Like so many people working in the mortgage industry, Allen Pollack did not set out in his early twenties with dreams of a career in mortgage lending. It was more like something that happened to him, a happy accident of sorts that has led him to his current role as EVP of Product Innovation at …
Allen Pollack: A tech guru who always looks on the bright side Read More »
The borrower must decide if the lower introductory rate is worth the risk of higher payments later. The recent announcement from the Federal Reserve that interest rates will be raised 75 basis points (and the idea that another hike is coming at their next meeting) has added to borrowers’ interest in adjustable-rate mortgages (ARMs). So …
Will rising HELOC volume boost the mortgage market? The mortgage industry has been abuzz lately with the potential of the HELOC. With home equity rates holding strong, HELOC volume has spiked in recent months – a hopeful sign for some who think home equity withdrawals could be a boon to a market that has seen …
Hello, HELOCs! Home Equity Lines of Credit Gain Traction as Equity Levels Remain Strong Read More »
Credit Unions relate to OpenClose because we treat you like you treat your members Why are more and more credit unions turning to OpenClose’s Mortgage Technology solutions? From our internal surveys, you tell us that it’s because of our shared values and commitment to the people we do business with. Credit unions embody that value …
Credit Unions Are Selecting Mortgage Solutions for the Best Technology and Relationships Read More »